This bill aims to limit the application fees that residential landlords can charge prospective tenants. Specifically, it prohibits landlords from requiring an application fee that exceeds the actual cost of a credit check or related services, with a maximum fee set at $30. If the costs incurred by the landlord for these services exceed $30, they are still restricted to charging only $30 as the application fee.

Additionally, the bill establishes penalties for landlords who violate this provision, imposing a $250 fine that can be enforced through summary proceedings by the Commissioner of Community Affairs or the Attorney General. Furthermore, applicants have the option to pursue a separate legal action against the landlord in the Superior Court, where they can recover the $250 penalty along with reasonable attorneys' fees or expenses. The bill is set to take effect four months after its enactment.